THE IMPACTS OF BITCOIN ON THE FINANCIAL MARKET

This study presented a literature review on the main issue associated with the impact of Bitcoin on the financial market and the new technological development that has reformed market interaction within society. Currently, the usefulness of digital currency has expanded financial trading. Bitcoin is considered the most significant global cryptocurrency due to its significant market recognition and technological nature. Although various studies have explained the merits and demerits of Bitcoin, most studies emphasised its influence and relationship with the financial market. Hence, this study also addressed this gap. An instrument and concepts were provided to comprehend the dynamics of Bitcoin and determine its function in the financial market. Moreover, the global meaning and function of Bitcoin were examined. Virtual and previous literature reviews highlighted a strong relationship between Bitcoin and the financial market with other cryptocurrencies. Summarily, Bitcoin is still in the early stage and needs to be developed through technological growth.